Weaker Opening
Stocks appear set to open lower
today, in
sympathy with lower trading in the overseas markets.
Wachovia
(
WB |
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PowerRating) will pay Bank One
(
ONE |
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PowerRating)
$350 million in termination fees to eliminate its agent banking deal.
Smithfield Foods
(
SFD |
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PowerRating) said it
will acquire Packerland, a privately held pork producer, for $250 million.
Anadigics
(
ANAD |
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PowerRating) raised guidance
for Q3 revenues to $16 million, as “previously expected” and in line
with Thomson Financial/First Call estimates. The company forecasts a net loss
between 56 and 58 cents a share. Analysts’ expectations are for 55 cents.
Target Corp
(
TGT |
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PowerRating) has chosen
SeeBeyond
(
SBYN |
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News |
PowerRating) as its company-wide standard for internal application
integration.
CSFG upgraded Qualcomm
(
QCOM |
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PowerRating)
from Hold to Buy.
RF Micro Devices
(
RFMD |
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News |
PowerRating) raised
its guidance for Q2 and said it expects to post break-even results for revenues.
Jakks Pacific
(
JAKK |
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News |
PowerRating) announced
that the Flying Colors division of the company has signed a three-year licensing
agreement with Saban Consumer products.
Diebold
(
DBD |
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News |
PowerRating) has entered an
agreement with Global Election Systems
(
GLE |
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PowerRating), where DBD will acquire Global.
Drug maker NeoPharma
(
NEOL |
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PowerRating) has
filed an Orphan Drug Application for its experimental treatment IL13-PE38 which
is used for malignant glioma, a deadly form of brain cancer.
Neurogen
(
NRGN |
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News |
PowerRating) named William
Koster to succeed Harr Penner as chief executive officer. Koster was formerly
senior vice president for drug discovery for Bristol-Myers Squibb
(
BMY |
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PowerRating).